VinFast Auto has announced its sales results for the first half of 2024. As of July 13, 2024, the company has delivered 21,747 electric vehicles to customers worldwide, a 92% increase compared to the same period in 2023. In Q2 2024 alone, VinFast sold 12,058 units, a 24% jump from Q1 and a 26% year-over-year increase.
According to VinFast, global economic uncertainties and challenges call for a more cautious strategy. As a result, the company has adjusted its vehicle delivery target to approximately 80,000 units for 2024, a 2.3-fold increase compared to 2023 (34,855 units).
VinFast recognizes the rapid transition from gasoline to electric vehicles in Vietnam and aims to capitalize on the domestic market’s growth momentum. The company has a strong foundation in Vietnam, including a wide network of charging stations, a diverse product portfolio, flexible battery rental policies, and excellent after-sales service.
In line with its cautious expansion plan, VinFast has decided to adjust the timeline for its North Carolina factory. The factory is now expected to begin production in 2028. This decision will allow the company to optimize capital allocation and manage short-term costs effectively, enabling VinFast to focus resources on immediate growth opportunities and consolidate existing operations.
VinFast Sells Nearly 21,800 Electric Vehicles in the First Half of 2024, Delays U.S. Factory Opening
“We have adopted a more cautious approach, carefully adjusted to mitigate short-term risks. This takes into account the actual market fluctuations and potential challenges. With our long-term strategic plan and proven execution capability, we are confident in meeting the growing demands of the dynamic global electric vehicle market,” said Le Thi Thu Thuy, Chairwoman of VinFast’s Board of Directors.
In the first half of 2024, VinFast officially launched the VF3 compact SUV in the domestic market and recorded a record number of bookings. The company also inaugurated dealerships and started selling the VF e34 and VF5 models in Indonesia just months after entering the market.
Additionally, VinFast debuted in Thailand and the Philippines, commenced vehicle deliveries in Europe, established a presence in the Middle East, broke ground on a factory in India, and expanded its global sales network.
VinFast will release its Q2 2024 financial report on August 15, 2024.
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